Campbell Soup Co. (CPB) to Issue Quarterly Dividend of $0.35 on October 31st
Campbell Soup Co. (NYSE:CPB) declared a quarterly dividend on Thursday, September 1st. Investors of record on Wednesday, October 12th will be given a dividend of 0.35 per share on Monday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, October 7th. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31.
Campbell Soup (NYSE:CPB) opened at 53.74 on Thursday. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 29.69 and a beta of 0.37. The company’s 50-day moving average is $57.12 and its 200-day moving average is $61.58. Campbell Soup has a 52-week low of $47.77 and a 52-week high of $67.89.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Equities analysts predict that Campbell Soup will post $3.04 earnings per share for the current year.
A number of brokerages recently weighed in on CPB. Wells Fargo & Co. set a $59.50 price target on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Sunday, September 4th. TheStreet cut shares of Campbell Soup from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Zacks Investment Research cut shares of Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Campbell Soup in a research note on Friday, July 15th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $60.00 target price on shares of Campbell Soup in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.83.
In other news, insider Jeff Dunn sold 8,459 shares of Campbell Soup stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the sale, the insider now directly owns 112,775 shares in the company, valued at $6,342,466. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now owns 28,952 shares of the company’s stock, valued at $1,671,688.48. The disclosure for this sale can be found here. Company insiders own 37.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Tredje AP fonden increased its stake in shares of Campbell Soup by 25.7% in the second quarter. Tredje AP fonden now owns 29,728 shares of the company’s stock worth $1,978,000 after buying an additional 6,086 shares during the period. Trexquant Investment LP purchased a new stake in shares of Campbell Soup during the second quarter worth approximately $1,045,000. Frontier Wealth Management LLC increased its stake in shares of Campbell Soup by 0.8% in the second quarter. Frontier Wealth Management LLC now owns 4,486 shares of the company’s stock worth $298,000 after buying an additional 36 shares during the period. Reliance Trust Co. of Delaware purchased a new stake in shares of Campbell Soup during the second quarter worth approximately $310,000. Finally, Bank of Nova Scotia increased its stake in shares of Campbell Soup by 6.8% in the second quarter. Bank of Nova Scotia now owns 3,592 shares of the company’s stock worth $239,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 43.99% of the company’s stock.
Campbell Soup Company Profile
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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